Dear friends and technicians.
Gold is on the rise, simply because the market is risk averse and seeking more risk friendly investments. I think we are heading towards a quite financially difficult year, where you have economic uncertainties all over the world. On a short term basis, gold tend to rise in these times, the same is the Swiss franc (chfusd).
I am quite confident that gold will continue to rise until we reach the 1350 level. We could have a small retraction at 1305 level but that is not strong resistance.
On the MACD, we can see that it is still showing a bullish development.
As you see from my analysis, I am not only looking at the technical side of the development but also the fundamental. Both the fundamentals and technicals are showing a bullish gold market.
I would be more than happy to receive your thoughts on my analysis.
Your future analyst RR.
Gold is on the rise, simply because the market is risk averse and seeking more risk friendly investments. I think we are heading towards a quite financially difficult year, where you have economic uncertainties all over the world. On a short term basis, gold tend to rise in these times, the same is the Swiss franc (chfusd).
I am quite confident that gold will continue to rise until we reach the 1350 level. We could have a small retraction at 1305 level but that is not strong resistance.
On the MACD, we can see that it is still showing a bullish development.
As you see from my analysis, I am not only looking at the technical side of the development but also the fundamental. Both the fundamentals and technicals are showing a bullish gold market.
I would be more than happy to receive your thoughts on my analysis.
Your future analyst RR.
Comment:
We are again going towards 1300 price level. I believe that the price will fall again in the short term and increase in the long term.
Comment:
Still moving in the right direction. I will update the analysis when the ceiling is reached.
Your future analyst RR.
Your future analyst RR.
Gold is moving in the correct direction. Hope this analysis helps you guys.
Your future analyse RR.